These inaugural awards recognise the insurance brands displaying the best innovations in their field.Read more…
Health insurance statistics
Is health insurance worth the expense?
The perks of private health insurance include having a wide choice of treatments, bypassing waiting times and having a more comfortable hospital experience.
We found that, despite the benefits of health insurance, only a small proportion of UK citizens are covered. We’ve looked into how health insurance costs have increased over time, how they fare compared to the most popular insurances and why health insurance might be worth looking further into.
The average spend on insurance premiums in 2019 by type
Most people will own more than one type of insurance, with the majority of the 1,046 respondents here reporting to have at least car, home or contents insurance.
|Type of insurance||Percentage|
|None of the above||13%|
Private health insurance is the fifth-most owned type of insurance, with 13% of respondents saying they have it. Car insurance is the most popular insurance type due to it being mandatory for the vast majority of all drivers, while private health insurance is costly and often covers treatments that are also provided for free by the NHS.
The Consumer Price Index (CPI) of health insurance over time
CPI is a statistical estimate based on the weighted average of a group of items in a certain market. CPI essentially indicates how much something costs compared to other products or services. Over a 11 year period from 2008 to 2019, the CPI for health insurance has shown steady but consistent growth, to peak at 121 in 2019.
The increased CPI indicates that health insurance has steadily increased in price over the last 11 years. The average year-on-year increase in price for health insurance over this 10 year period is 6% per year.
The expense and waiting times for common medical treatments
We’ve ranked six medical treatments based on the cost of the treatment and the average waiting time for the treatment on the NHS. Both knee surgery and hip replacement surgery are good examples of when a person would save both time and money by being covered by private health insurance.
|Treatment||Cost of private treatment||Average wait time on NHS|
|Knee replacement||£11,814||13.5 weeks|
|Hip replacement||£10,776||13.5 weeks|
|Cataract surgery||£2,410||12.4 weeks|
|MRI scan||£1,298||2.6 weeks|
|Skin lesion removal||£940||6.5 weeks|
|CT scan||£870||2.2 weeks|
With private health insurance costing just over a tenth of the cost of the two replacement surgeries (£1,435 a year), which also demand that you wait around 13 weeks for the treatment under the NHS, you can see how health insurance can appear to be the more desirable option. The scans, on the other hand, cost a similar amount to an annual health insurance payment and require only a 2-week wait under the NHS.
Click here for more research. For all media enquiries, please contact:
Read our comprehensive guide on shareholder protection cover, including how it works, pros and cons for taking out a policy and how to set cover up correctly.Read more…
Use our online calculator to find out how much life insurance you need based on your own personal circumstances.Read more…
Find out what life insurance for business owners is, the different policies on offer and what is included in each.Read more…
Find out how life insurance works and what policy is right for you.Read more…
Find out what key person insurance is, what it includes and whether your business can benefit from it.Read more…
More guides on Finder
Invest in makeup stocks
Want to add highlight to the foundations of your investment portfolio with makeup stocks? Find out how to invest in makeup and the risks.
Life insurance for self-employed individuals
Are you self-employed and looking for life insurance? Read our comprehensive guide on what options are available and what’s included.
Investing predictions panel
2020 has been a turbulent year for investors. To help, our global panel of investing experts give their thoughts on markets and assets around the world.
How many people are still using bank branches in the UK in 2020?
Are people still using bank branches? Is your area being affected by bank branch closures? Find out the latest data here.
Most popular podcasts in the UK 2020
We found out how popular podcast listening is in the UK, how much is spent on advertising and what the most popular podcasts are.
Mask usage in the UK and around the world
97% of Brits own a face mask, the most out of all the 15 countries in our global study.
Car crime statistics 2020
There were on average 37% less offences involving cars during the first quarter of 2020 than the same period in 2019.
Are Brits going to be travelling post-lockdown?
We’ve done some research to see if the British public are still keen on travelling abroad and whether any countries will be avoided.
Most dangerous jobs in the UK
We’ve rounded up the best and the worst paying occupations in the UK, as well as the jobs that could be hazardous to your health.
Coronavirus unemployment rates
Before the coronavirus pandemic hit the UK, the unemployment rate was 3.80%, but may be surging up to 20%* by the end of May.
Ask an Expert